AXIS REIT doubles EPU to 7.6 sen for 3Q 2010

KUALA LUMPUR: AXIS Real Estate Investment Trust (AXIS REIT) almost doubled its earnings per unit (EPU) to 7.6 sen for the third quarter (3Q) ended Sept 30, 2010, from 3.83 sen a year ago.

The REIT’s net profit more than doubled to RM24.26 million from RM10.25 million on the back of a 26.7% increase in revenue to RM22.39 million from RM17.67 million previously, according to a Bursa filing on Wednesday, Oct 20.

Axis REIT Managers Bhd (ARMB), is confident of maintaining its current performance in the next quarter with the current satisfactory performance of the REIT’s  investment portfolio and growth strategy of actively pursuing quality acquisitions.

In a separate announcement, the REIT had appointed Mohd Sharif Yusof as a senior independent non-executive director of ARMB on Wednesday Oct 20.

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